Published: Thu, February 01, 2018
Sport | By Stuart Potter

Sanofi Beats Novo To Buy Ablynx For $4.8B

Sanofi Beats Novo To Buy Ablynx For $4.8B

French drug giant Sanofi today struck a deal to buy Belgian biotech company Ablynx for $4.8 billion (€3.9 billion), in a bid to add a prized experimental drug for a rare blood disorder to its portfolio. The transaction was unanimously approved by both the Sanofi and Ablynx boards of directors. Last week the company announced it was to acquire USA biotech group Bioverativ for $11.6bn.

The deal is contingent on Ablynx shareholders tendering at least 75 per cent of the shares.

Ablynx's chief executive Edwin Moses said "we believe Sanofi's global infrastructure, commitment to innovation and commercial capabilities will accelerate our ability to deliver our pipeline" of products under development to the market.

Under the terms of the agreement, Sanofi will launch public offers to acquire all of the outstanding ordinary shares (including shares represented by ADSs), warrants and convertible bonds of Ablynx in cash. Ablynx is at the leading edge of nanobody technology supporting a deep pipeline of more than 45 proprietary and partnered candidates for a wide range of therapeutic areas such as haematology, inflammation, immuno-oncology and respiratory diseases.

Barça advance to Spanish Copa del Rey semifinals
The 25-year-old's display got the Spanish papers talking and the general consensus was that Coutinho's debut was a positive one. Coutinho seemingly requires no feeling out process whatsoever, judging by his debut for Barcelona which came on Thursday night.

Ablynx's most-advanced product in development is caplacizumab, a wholly-owned development program for the treatment of acquired thrombotic thrombocytopenic purpura, which is an unusual disorder in which blood clots form in small vessels throughout the body.

Jefferies says that caplacizumab could be approved in Europe in the third quarter of this year, with a U.S. filing shortly after and an expected USA launch in the first half of 2019. The Belgian company estimates it could garner annual sales of €1.2 billion at its peak.

Jens Lindqvist, a partner and senior research analyst at N+1 Singer, said licensing deals will likely continue to dominate the agenda as big firms aim to avoid becoming too involved with other companies' corporate affairs, with an exception for platform deals where an acquisition could bring a substantial strategic advantage, as in the case of Ablynx.

Dr. Brandicourt said in the statement that Sanofi would reaffirm its commitment to Belgium by maintaining and supporting the Ablynx science center in Ghent, as well as retaining its biologics manufacturing facility in Geel.

Like this: